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CONGRESSIONAL DISTRICT 4

HomeToOwn Program Activity (Red)

Development Finance Program Activity (Black)

FY 2001  through FY 2004

  1. Ashley
  2. Bradley
  3. Calhoun
  4. Chicot
  5. Clark
  6. Cleveland
  7. Columbia
  8. Dallas
  9. Desha
  10. Drew
  11. Garland
  12. Grant
  13. Hempstead
  14. Hot Spring
  15. Howard
  16. Jefferson
  17. Lafayette
  18. Lincoln
  19. Little River
  20. Miller
  21. Montgomery
  22. Nevada
  23. Ouachita
  24. Pike
  25. Sevier
  26. Union

 

ANNUAL REPORT OF PROGRAM ACTIVITY

FISCAL YEAR 2004:  July 1, 2003 – June 30, 2004

 

See “Statewide” Section for list of FY 2004 Bond Issuances

 

CONGRESSIONAL DISTRICT 4

 

HOMEOWNERSHIP

Counties:   Ashley, Bradley, Calhoun, Chicot, Clark, Cleveland, Columbia, Dallas, Desha, Drew, Garland, Grant, Hempstead, Hot Spring, Howard, Jefferson, Lafayette, Lincoln, Little River, Logan, Miller, Montgomery, Nevada, Ouachita, Pike, Polk, Scott, Sevier and Union

 

HOME-TO-OWN PROGRAM

 

Participating Lenders Located in Congressional District 4

 

ORIGINATOR

COUNTY

CONG DIST

PHONE NUMBER

WEB SITE

First State Bank, Warren, AR

Bradley

4

870.226.2601

www.firststatewarren.com

Elk Horn Bank and Trust, Arkadelphia, AR

Clark

4

870.246.0618

www.ehbt.com

Summit Bank, Inc., Arkadelphia, AR

Clark

4

870.230.1100

www.summitbankdirect.com

BancorpSouth, Magnolia, AR

Columbia

4

870.234.1234

 

Heartland Community Bank, Fordyce, AR

Dallas

4

870.352.3101

www.heartlandbankonline.com

Heartland Community Bank, Monticello, AR

Drew

4

870.367.5334

 

Alliance Bank of Hot Springs, Hot Springs, AR

Garland

4

501.318.1017

www.alliancebank.net

Bank of America, Hot Springs, AR

Garland

4

501.321.8288

www.bankofamerica.com

Summit Bank, Inc., Hot Springs, AR

Garland

4

501.525.8653

 

Superior Federal Bank, FSB, Hot Springs, AR

Garland

4

501.623.4585

www.superiorfederal.com

US Bank Home Mortgage, Hot Springs Village, AR

Garland

4

501.915.9133

 

US Bank Home Mortgage, Hot Springs, AR

Garland

4

501.321.5070

 

Heartland Community Bank, Sheridan, AR

Grant

4

870.942.8844

www.heartlandbankonline.com

Malvern National Bank, Malvern, AR

Hot Spring

4

501.332.6955

www.onemoneyplace.com

Citizens National Bank, Nashville, AR

Howard

4

870.845.3323

 

Lenders Mortgage Co. Inc., Pine Bluff, AR

Jefferson

4

870.541.9433

 

Simmons First National Bank, Pine Bluff, AR

Jefferson

4

870.541.1469

www.simmonsfirst.com

First Western Mortgage, Inc., Booneville, AR

Logan

4

479.675.3895

www.firstwesternbank.net

The First National Bank of Paris, Booneville, AR

Logan

4

479.675.7070

www.firstparis.net/

The First National Bank of Paris, Paris, AR

Logan

4

479.963.6319

www.firstparis.net/

The First National Bank of Paris, Ratcliff, AR

Logan

4

479.635.4111

www.firstparis.net

Regions Mortgage, Inc., Texarkana, TX

Miller

4

903.832.2551

www.regions.com

Farmers Bank & Trust, Camden, AR

Ouachita

4

870.836.5701

 

Heartland Community Bank, Camden, AR

Ouachita

4

870.836.6841

www.heartlandbankonline.com

First State Bank, DeQueen, AR

Sevier

4

870.642.4423

 

BancorpSouth, El Dorado, AR

Union

4

870.863.3181

www.bancorpsouthonline.com

First Financial Bank, El Dorado, AR

Union

4

870.863.7000

www.ffb1.com

 

Loan Statistics

                       

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

MEDIAN LOAN AMT.

111

$6,601,212.00

$59,470.38

$57,049.00

                       

Loans by Originator

 

Originator/Branch

No. Loans

 

Dollar Amount

1st National Bank, Paris, AR

17

$1,033,190.00

Arvest Mortgage Company, Lowell, AR

3

$155,915.00

Bank of Dardanelle, Russellville, AR

1

$75,098.00

First Western Mortgage, Inc., Booneville, AR

9

$548,000.00

Metropolitan National Bank, Little Rock, AR

2

$164,075.00

Pulaski Mortgage Company, Little Rock, AR

2

$126,042.00

Regions Mortgage, Inc., Little Rock, AR

2

$119,018.00

Simmons First National Bank, Pine Bluff, AR

67

$3,798,474.00

Summit Bank, Inc., Arkadelphia, AR

7

$549,350.00

Superior Federal Bank, Little Rock, AR

1

$32,050.00

 

Loans by New or Existing

                                               

New or Existing

No. Loans

Dollar Amount

Existing Construction

107

$6,295,262.00

New or Proposed Construction

4

$305,950.00

 

Demographics

 

Ethnicity

No. Loans

Dollar Amount

Percent

Non-Minorities

53

$3,381,088.00

47.7%

Minorities

58

$3,220,124.00

52.3%

 

Ethnicity

Mean Income

Median Income

Non-Minorities

$35,203.94

$35,988.00

Minorities

$33,843.28

$33,000.00

                                               

Average Household Size:

2.6

 

 

Loan Cancellation Rate:

9.0%

 

DOWN PAYMENT ASSISTANCE PROGRAM
 

Current Participating Homebuyer Counselors in Cong. District 4

 

HOMEBUYER COUNSELOR

COUNTY

CONG DIST

PHONE NUMBER

WEBSITE

South Arkansas Community Development, Arkadelphia, AR

Clark

4

870.230.1717

www.arcommunity.com/sacd_001.htm

Community Service Office, Inc., Hot Springs, AR

Garland

4

501.624.5724

 

Central Arkansas Development Council, Malvern, AR

Hot Spring

4

501.315.1121

www.cadconline.net

Dream Makers Housing Counseling Agency, Inc.,  Pine Bluff, AR

Jefferson

4

501.225.4328

 

Southwest Arkansas Development Council, Inc., Texarkana, AR

Miller

4

870.773.5504

 

 

Loan Statistics

                       

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

% of H2O (1ST) LOANS

59

$160,370.00

$2,718.14

53.2%

                         

Loans by Homebuyer Counselor

 

HOMEBUYER COUNSELOR

NO. LOANS

DOLLAR AMOUNT

Argenta Neighborworks Homeownership Center

2

$6,000.00

ARVAC, Inc.

1

$2,900.00

Community Resource Tech

1

$3,000.00

Crawford-Sebastian Community Development Council, Inc.

 

1

$3,000.00

Dream Makers Housing Counseling Agency, Inc.

47

$125,695.00

In Affordable Housing

4

$11,075.00

South Arkansas Community Development

2

$5,700.00

Universal Housing Development Corporation

1

$3,000.00

 

Loans by New or Existing

                                               

New or Existing

No. Loans

Dollar Amount

Existing Construction

58

$157,470.00

New or Proposed Construction

1

$2,900.00

 

Demographics

 

Ethnicity

No. Loans

Dollar Amount

Percent

Non-Minorities

22

$61,950.00

37.3%

Minorities

37

$98,420.00

62.7%

 

Loan Cancellation Rate:                                                                                       7.8%

 

TOTAL HOMEOWNERSHIP FY 2004:             $6,761,582.00

 

Total Economic Impact

Local Jobs Supported:                                                             13

Local Business Owner’s Income:                                          $104,720.00

Local Wages & Salaries:                                                       $470,920.00

Local Government Revenue:                                        $74,280.00

 

TOTAL MONETARY IMPACT:                                            $649,920.00

 

HOUSING PRODUCTION

 

Affordable Housing Partners Serving Congressional District 4

 

ARC of Arkansas, Little Rock, AR

Bradley Housing Authority, Warren, AR

City of Murfreesboro, AR

City of Warren

DCP Development, Dumas, AR

Family Service Agency, Inc., North Little Rock, AR

Health Resources of Arkansas, Inc., Batesville, AR

Leisure Homes, Mountain Home, AR

Reed HOR

South Arkansas Community Development

Southland Properties, Inc., Dumas, AR

Spa Area Independent Living Services

Sunbelt Development Corporation, Little Rock, AR

Sunbelt Housing Corporation, Little Rock, AR

Watson HOR

Zimmerman Properties, Springfield, MO

 

HOME Allocations / Board Approvals FY 2004

 

Program Statistics

 

No. Units

HOME Funds

Rental New Construction

36

$824,000.00

Rental Rehab

0

$0.00

Homeowner New Construction

5

$325,000.00

Homeowner Rehab or Mortgage Subsidy

17

$907,500.00

 

Tenant Based Rental Assistance

Tenants -42

 

$111,600.00

Acq / Rehab

36

$350,000.00

 

TOTAL

Tenants – 42
Units –94

 

$2,518,100.00

 

Average Amount per Unit

 

Tenants - $2,657.14

Units - $25,601.06

 

 

Disbursements of FY04’s & Previous Years’ HOME Allocations/Approvals and
FY2004 Low-Income Tax Credits

 

 

No. Units

Tax-Exempt Bonds

Low Income Hsng Tax Credits

 

HOME Funds

 

Total

Rental New Construction

 

117

 

$0.00

 

$544,920.00

 

$350,000.00

 

$894,920.00

Rental Rehab

1

$0.00

$0.00

$65,000.00

$65,000.00

Homeowner New Construction

 

 

0

 

 

$0.00

 

 

$0.00

 

 

$0.00

 

 

$0.00

Homeowner Rehab or Mortgage Subsidy

 

 

 

28

 

 

 

$0.00

 

 

 

$0.00

 

 

 

$1,329,117.00

 

 

 

$1,329,117.00

Tenant Based Rental Assistance

 

 

0

 

 

$0.00

 

 

$0.00

 

 

$0.00

 

 

$0.00

Acq / Rehab

209

$0.00

$615,273.00

$855,711.00

$1,470,984.00

TOTAL

355

$0.00

$1,160,193.00

$2,599,828.00

$3,760,021.00

Average Amount per Unit

 

 

 

 

 

 

$10,591.61

 

TOTAL HOUSING PRODUCTION FY 2004:                   $3,760,021,00

 

Total Economic Impact

Local Jobs Supported:                                                                                 186

Local Business Owner’s Income:                                                    $1,722,240.00

Local Wages & Salaries:                                                                 $7,036,380.00

Local Government Revenue:                                                           $1,186,380.00

 

TOTAL MONETARY IMPACT:                                                        $9,945,000.00

 

DEVELOPMENT FINANCE
 

Capital Access Participating Lenders Located in Cong. District 4

None

 

Program Statistics

 

Program

 

No. Projects

 

Project Amount

Average Project Amount

ADFA Bond Guaranty

0

$0.00

$0.00

AEDC/Other Bond Guaranty

0

$0.00

$0.00

Higher Education Facilities

0

$0.00

$0.00

Wastewater Revolving Loan

1

$5,500,000.00

$5,500,000.00

Safe Drinking Water Revolving Loan

3

$15,760,363.00

$5,253,454.33

ADFA-Originated Loans

0

$0.00

$0.00

Bond Guaranty Reserve Fund

0

$0.00

$0.00

Capital Access Program

4

$343,718.00

$85,929.50

Disadvantaged Business Enterprise

0

$0.00

$0.00

Beginning Farmer

0

$0.00

$0.00

Governmental Conduits

2

$39,800,000.00

$19,900,000.00

Special Projects Fund

2

$9,687,025.00

$4,843,512.50

 

 

TOTAL DEVELOPMENT FINANCE FY 2004:             $71,091,106.00

 

TOTAL FUNDS FOR CONG. DISTRICT 4 FY 2004

$81,612,709.00

 

Distribution of these total funds

 

Homeownership

$6,761,582.00

Housing Production

$3,760,021.00

Development Finance

$71,091,106.00